The beneficiaries of a Will that has been probated and is being administered in a estate proceeding have the right to contest an accounting of the Executor of the Will and Estate.
This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
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Some of the financial assets of the deceased are put within an estate account after they pass away in order to help pay off their debts. Once the account is opened, the Executor, or a court-appointed administrator, is permitted to use the funds held within the account for debts.
The Personal Representative must file a final account, report and petition for final distribution, have the petition set for hearing, give notice of the hearing to interested persons, and obtain a court order approving the final distribution.
Individuals can receive inheritance money in different ways including through a trust and from a will, which can come with restrictions, or as a beneficiary on a bank or retirement account.
An order for final distribution in California probate is conclusive to the rights of heirs and devisees in a decedent's estate. The order also releases the personal representative from claims by heirs and devisees, unless, of course, there is fraud or misrepresentation present.
The Personal Representative must file a final account, report and petition for final distribution, have the petition set for hearing, give notice of the hearing to interested persons, and obtain a court order approving the final distribution.
What is Distribution? Once disbursement is complete, meaning all debts and final taxes are paid, a trustee can distribute the inheritance to beneficiaries. This is called distribution. It is only then that money should be paid to the benefit or care of the beneficiary.
Divvying up your estate in an equal way between your children often makes sense, especially when their histories and circumstances are similar. Equal distribution can also avoid family conflict over fairness or favoritism.
With the distribution of all assets, the executor is said to have ?closed the estate.? But, the executor still retains the power to gather newly discovered assets and address future complaints.
